The three-year senior unsecured fixed-rate sustainable-development bonds pay an annual coupon of 3.847 per cent, and will settle locally in Hong Kong’s Central Moneymarkets Unit (CMU), which tracks and manages Hong Kong-dollar debt securities and other financial products. The bonds attracted investors domestically and across Asia-Pacific, with the final order book reaching HK$9 billion with…
Retail therapy was such a reliable driver of Hong Kong tourism that few in the business contemplated the need for diversity. Why fix a wheel that wasn’t broken? Luxury brands gobbled up prime space, muscling out local designers and innovation. Now, that well-oiled wheel is grinding to a halt and klaxons are sounding. Yet it…
Hong Kong can become a multicurrency bond hub and Beijing’s recently announced measures to expand the Bond Connect scheme will further enhance the city’s role as a prime destination for debt issuance, analysts said. Earlier this month at the Asian Financial Forum, People’s Bank of China (PBOC) governor Pan Gongsheng spoke about increasing the “asset…
Retail sales in Hong Kong dropped for the eighth month straight in October, falling by 2.9 per cent year on year, even as authorities have expressed optimism that spending will increase with the resumption of multiple-entry visas for Shenzhen residents. Provisional estimates from the Census and Statistics Department on Friday put the total value of…
The Exchange Fund reported one of its best quarterly returns as stock markets rallied in Hong Kong and the United States, as a diversified investment approach helped to swell the financial war chest for defending the city’s currency peg. The fund’s investment return more than doubled to HK$224.7 billion (US$28.8 billion) in the first nine…